Music Marketing Company with Seychelles, Payment Gateway Problems.

[moneyrequired]

In short - this⁤ is a crime.
I heard that Stripe report sales to tax authorities. If this is⁣ a true described solution isn't stable.

 

[fshore]

Company income is taxable⁤ even if its cash, bitcoin etc. You don't need a bank account to produce taxable⁣ income. The stripe account can be viewed as a kind of bank account, and you⁢ transfer it then on to another company's bank account.

 

[Sols]

The scheme proposed here will stop working when Stripe checks the Company House for your‌ annual accounts and find either none or ones for a dormant company. Until then, scheme‍ can work so long as the recipient bank account is in the same name as⁠ the UK company. But there is a risk of bounced payment if the recipient financial⁤ institution looks at more than just company name and also looks at company address (especially⁣ country). If they see, for example, Music Marketing Ltd in UK and Music Marketing Ltd⁢ in Seychelles, you might have a problem.

That doesn't change the general and overall illegality︀ of it all, of course.

 

[Neilbali]

What is your monthly turnover. if its 100k plus its easy to find second tier‌ providers.

 

[Neilbali]

email me at [email protected]

 

[LazyFox]

I am also looking for some‌ solution with the same structure. So, can you post some details about B2BPay here?

 

[Neilbali]

at B2B Pay we specalise in providing bank accounts to global companies. naturally lot of‌ our companies also need credit card processing and we have a bunch of card processors‍ who support high risk entities and also high risk jurisdictions. can connect you to them.⁠

 

[moneyrequired]

@Neilbali, Does company need (addictional)local bank account to start business with you?

 

[Neilbali]

depends. for customers from EU, USA; canada, China, India, HK, Singapore, NZ,‍ AUS. this is not a requirement. but for all others we need to see a⁠ local account.

 

[LazyFox]

For a company registered in Seychelles, what are your requirements and⁠ the process?

 

[Neilbali]

I can email you the list of documents we need. lot easier‍ but generally speaking we need a couple of filled form plus the below. financials are⁠ not a must.

example:
Please read the list of documents carefully and provide all the⁤ below documentation

Step 1: Please fill in the attached form (for companies or legal entities⁣ only)

Step 2: Basic Onboarding Documentation

1) Incorporation document or certificate of incorporation, Articles of⁢ association, and Memorandum of association.
2) Official document showing who the directors and shareholders are.︀
3) For 2 directors their proof of Identity (Passport is ideal) and Proof of Address︁ (Utility bill, Bank statements, official government documents no older than 3 months) .
4) For︂ shareholders who owns more than 25% a proof of identity and Proof of address (in︃ most cases it will be a director so it does not need to be repeated)︄

*Incase of corporate groups:
1) Incorporation document for the Parent of the subsidiary and shareholders︅ registry for parent.
2) Signed organisation chart by director of the company (if it is︆ a group).

Step 3: Proof of Business to verify your business:
1) Information on the︇ business activity, brochures, product or customer information.
2) Copy of Financial Statements
3) Invoices from︈ customers and to suppliers
4) Bank statements for last three months.

 

[LazyFox]

Thank you︆ for the details. All good, but what if the company doesn't have any bank account︇ then what for "4) Bank statements for last three months."

 

[Decanl]

Same question

 

[user9823671]

op, did you find a solution to the payment processor problem?

 

[Decanl]

Yes I did. I am using ePayments! Recommended. It is a hard process to‍ get it started but in the end it worked. It took me over 1.5 months⁠

 

[user9823671]

and they are ok with a seychelles company? No problem?

Did they want to know‌ company / personal tax ID numbers?

Did they require extensive KYC?

What payment methods do‍ they allow? Do they service world wide? I have been in contact with some processors⁠ who wouldn't process US payments for an offshore company.

In what way?

Overall, how have you found⁣ having a seyechelles company for (what I assume is) an online company receiving regular subscription⁢ payments?

 

[Decanl]

Yes they were completely okay with IBC⁣ Seychelles. They didn't ask for company/or personal tax ID numbers.
They didn't ask any addition⁢ information about KYC, just the usual stuff, average order value, subscription or no, monthly volumes︀ and all that.

Payment methods are VISA/DEBIT Cards those were the main ones that I︁ did need, they also do offer QIWI, WebMoney, Yandex Money, SEPA.

They do work worldwide,︂ I have open accounts in USD/EUR and RUB.

The process was hard because it was︃ so time consuming, it took me like 5-8 weeks to get it up and running.︄
Seychelles IBC is great for my business type and if you think outside the box︅ you can always find a good solution.

 

[rewindghost]

I contacted their support few weeks ago, they said Seychelles IBC︂ is no problem but they cannot provide credit card processing to these accounts.
Last week︃ I provided them all the documents and they denied the application because of "high risk"︄ and no further explanation..